Q.104 Solution Accounting for Share Capital TS Grewal Book Class 12 CBSE
Step-by-step solution of Question 104, Chapter 8 Accounting for Share Capital (Issue of Shares), TS Grewal Class 12 Accountancy 2024-25 for the CBSE Board.
Question 104
Janta Ltd. issued applications for 5,00,000 equity shares of ₹ 10 each, at a premium of ₹ 4 per share. The amount was payable as follows:
On application ₹ 6 (including ₹ 2 premium), on Allotment ₹ 6 (including ₹ 2 premium) and Balance on first and final call.
Applications for 7,50,000 shares were received. Allotment was made to all the applicants on pro rata basis. Mohan to whom 1,000 shares were allotted did not pay allotment and call money. Vikram to whom 500 shares were allotted, did not pay the call money. These shares were forfeited and afterwards reissued @ ₹ 8 per share fully paid-up. Pass the necessary Journal entries.
Solution
All questions of Chapter 8
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About this solution
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